China Ag Imports Outpace Exports in H1 2017

The Ministry of Agriculture reports that China's agricultural imports surged to $61.2 billion in the first half of 2017, while agricultural exports were $34.9 billion. The value of imports was 14.5 percent ahead of the same period last year, and exports were up 3 percent. Oilseeds were the largest agricultural import category, valued at $20.8 billion in H1 2017. China also imported $2.7 billion in edible oils. Oilseed and edible oil imports were both up more than 26 percent from last year. Livestock imports were $12.4 billion, up 6.5 percent from a year ago. China has trade surpluses in aquatic products and vegetables. (The statistics do not report a number of processed foods, beverages, and live animals.)

China agricultural imports and exports, January-June 2017
Category	Imports	y-o-y change	Exports	y-o-y change
	Bil. $	percent	Bil. $	percent
Agricultural products	61.22	14.5	34.92	3
Cereal grains	3.29	-2.8	0.36	74.1
Cotton	1.29	56.1	--
Sugar	0.7	43.2	--
Oilseeds	20.83	26.2	0.85	16.3
Edible oils	2.72	26.8	0.1	47.8
Livestock	12.38	6.5	2.93	11.3
Aquatic products	5.1	18.7	9.83	2.1
Vegetables	0.26	6.1	7.28	7.3
Fruit	3.38	-0.3	2.71	-6.3

Grain imports were valued at $3.3 billion in H1 2017, and totaled 13.7 million metric tons. Wheat and barley imports were up sharply, but corn and sorghum imports plunged. The volume of rice imports was up 6.5 percent to 2.1 mmt.

Imports of distillers dried grains--hit with antidumping duties imposed by China--sank 77 percent from a year ago. Cassava imports fell 6.5 percent.

China imported 769,000 metric tons of cotton and 1.7 million metric tons of cotton yarn. Sugar imports were up 5.9 percent.

The volume of soybean imports was up 16.2 percent to 44.8 mmt during H1 2017. Rapeseed imports totaled 2.6 mmt, and rose 32 percent from last year. Palm oil, rapeseed oil, and soybean oil imports were up sharply, but sunflower seed oil imports dropped.

Pork imports declined as domestic pork prices fell this year to levels substantially lower than record-highs reached in 2016. Beef, lamb, and milk powder imports were up in H1 2017.

China imports of agricultural products, January-June 2017
Item	Imports	y-o-y change
	1,000 tonnes	percent
Cereal grains	13,157	1
Wheat	2,653	48.2
Corn	736	-74.7
Rice	2,136	6.5
Barley	4,521	110
Sorghum	2,990	-26.1
Distillers grains	342	-77.8
Cassava	4,267	-6.5
Cotton	769	24
Cotton yarn	1,732	9.4
Sugar	1,414	5.9
Soybeans	44,808	16.2
Rapeseed	2,635	32.1
Palm oil	2,181	16.9
Rapeseed oil	479	21.3
Sunflower oil	352	-25.1
Soybean oil	361	92.5
Pork	662	-13.1
Pork offal	626	-8.0
Beef	327	10.6
Lamb	146	4.6
Milk powder	563	9.9